SHFE Lead to Bounce Back (2016-5-17)-Shanghai Metals Market

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SHFE Lead to Bounce Back (2016-5-17)

Price Review & Forecast 09:29:06AM May 17, 2016 Source:SMM

SHANGHAI, May 17 (SMM) – SHFE 1607 lead will rebound to RMB 12,850-13,000/mt on May 17.

Markets expect US April housing starts and CPI to be positive, which may boost US dollar. This will depress base metals prices.

LME lead will narrowly range USD 1,720-1,740/mt during Asian trading hours Tuesday. In China’s spot market, downstream demand stays weak and smelters are active in selling, leaving supply ample. Spot lead should trade at RMB 12,800-12,950/mt today. 

Key Macroeconomic Indicators for Base Metal Prices (2016-5-17)         

SHFE Lead to Bounce Back (2016-5-17)

Price Review & Forecast 09:29:06AM May 17, 2016 Source:SMM

SHANGHAI, May 17 (SMM) – SHFE 1607 lead will rebound to RMB 12,850-13,000/mt on May 17.

Markets expect US April housing starts and CPI to be positive, which may boost US dollar. This will depress base metals prices.

LME lead will narrowly range USD 1,720-1,740/mt during Asian trading hours Tuesday. In China’s spot market, downstream demand stays weak and smelters are active in selling, leaving supply ample. Spot lead should trade at RMB 12,800-12,950/mt today. 

Key Macroeconomic Indicators for Base Metal Prices (2016-5-17)